Where to look, where to dig? You might feel like a treasure hunter with no treasure map. Let us show you the way to a gem of a student loan.
Absa is a reputable bank. It is accessible almost everywhere in South Africa. A student loan with Absa can also include the opening of a bank account with them. Their Student Package (a bank account) boasts with some valuable benefits like a student credit card. Included in the signing for a student loan with Absa will be - discounts on study equipment and access to a Credit Protection Plan that covers the balance of your student debt with them in the events of disability, retrenchment and/or loss of life.
Eduloan in - their own words - is an education finance specialist. Eduloan was established in 1996 and have already paid out over R4 billion in student loans. They are passionate about the success of their clients and offer loans to students across Southern Africa. When you are a client of Eduloan you will be eligible for the financing deals on laptops and tablets as well.
First National Bank
FNB is one of the “big four” banks in South Africa. They are known for their innovative banking and the same can be expected from their student loans. A typical FNB student loan will cover tuition fees, books and campus accommodation. FNB will offer you a personalised interest rate according the credit score of the principal debtor. Therefore repayment details will be settled with each customer individually.
Standard Bank is currently operating in 32 countries across the world including 20 in Africa. It is originally established in 1862, but it is known by its current name since 1962. A student loan with Standard Bank will automatically lead to you having an account with them. A debit card is included with which to facilitate your purchases as a student.
Nedbank was originally established in Amsterdam (Netherlands). Since 1969 it is 100% South African owned with its current headquarters in Sandton South Africa. Nedbank will offer you a grace period on your student loan. This will come in handy in the event of you having to finish an internship or community service before your employment commences.
Banks generally have some tasty offers on student loans. Other financial institutions offer value in ways which banks can’t supply. Your gem of a student loan awaits. Just keep digging – or better yet – let Fincheck do the digging and visit our Student Loan Comparison Page.